One Knoxville company wins, another competing in InnoSTARS China event

EDP Biotech won third place and a cash prize in the “InnoSTARS Competition Semi-Final for Biomedicine & Medical Device Group” event June 14-15 in Suzhou, China. Click here to read more.

Coincidentally (and unrelated to EDP’s specific circumstances) the Wall Street Journal published this article detailing recent Chinese investments into Western biotech companies. Per the WSJ: “Fledgling biotechs and medical-technology startups in the U.S. and Europe have found a new source of funding for their costly research: China. Foreign health-care investments by Chinese venture-capital and private-equity firms reached a record $3.5 billion last year, up from $500 million four years earlier, according to Bain & Co. ”